The GetFive Blog

Most Important Developments in HR for July 12th

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The layoffs have started at Deutsche Bank as the struggling lender embarks on a dramatic overhaul that will reduce its workforce by 18,000. CEO Christian Sewing unveiled a restructuring on Sunday that will eliminate roughly one in five jobs at the German bank. In addition to Asia, it has big offices in London and New York and branches and outposts throughout the world. “We will only operate where we are competitive,” Sewing said Monday. “We tried to compete in nearly every corner of the banking market at the same time. We simply spread ourselves too thin.” Germany’s biggest bank at one point dreamed of dominating investment banking, competing with the likes of American heavyweights Goldman Sachs (GS) and Morgan Stanley (MS). But the bank — and its investment banking team in particular — struggled to find direction following the global financial crisis. The bank reported an annual profit last year for the first time since 2014. CNN

Amazon.com Inc. plans to spend $700 million to retrain a third of its U.S. workforce, as technology threatens to upend the way many of its employees do their jobs. The company announced Thursday that it will retrain 100,000 workers by 2025 by expanding existing training programs and rolling out new ones meant to help its employees move into more advanced jobs inside the company or find new careers outside of it. The training is voluntary, and most of the programs are free to employees, the company said. WSJ

For American soccer fans, the juxtaposition was hard to ignore: The United States women’s team winning a record fourth World Cup championship in France, its men’s counterpart falling to its bitter rival Mexico hours later in a regional championship in Chicago. The two results Sunday were not a mere collision of games: They also highlighted a contentious battle about pay equality featuring the men’s teams and women’s teams, the different media and financial ecosystems in which they compete, and the often unequal rewards for success for male and female athletes. All of it was brought to the fore again by the women’s team’s latest world championship, and by the chants of “Equal Pay!” that serenaded the players after they won. The New York Times

Interesting responses on LinkedIn to a piece that ran in the WSJ last week. The upshot of the article: As off-hour emails proliferate, late Sundays are turning into the new start of the workweek, says The Wall Street Journal. A LinkedIn survey showed 80% of working adults experienced a pickup in work-related stress on Sunday evenings. Meanwhile, a Sunday-night email analysis conducted by Microsoft found that every hour a manager spent online generated an extra 20 minutes of out-of-hours work for their direct reports. Some businesses are now pushing back against the “Sunday Scaries” by delaying email delivery until the next morning. Take a minute to read some of the responses. Managers are sending Sunday night emails more than you might think. And frankly, people are sick and tired of it. We don’t blame you. LinkedIn

Christopher Cabrera’s awakening happened while he was working at a Silicon Valley startup in the 1990s. He was halfway through hiring an eight-person team when his boss pointed out that all of his hires were white guys in their early 20s. “This isn’t a fraternity,” his boss said–a phrase that haunted Cabrera more than a decade later when he was launching Xactly, a sales-performance-management-platform company. So imagine Cabrera’s surprise in 2014, when, while researching his 300-person company’s sales data, he found that his female employees closed deals 3 percent more often than their male colleagues and yet, on average, were paid less. It turned out that his hiring managers were being rewarded for bringing in new employees for as little as possible, which worked against women, who are less likely to aggressively negotiate their own salaries, even for positions that require savvy negotiating skills. “Most gender bias isn’t nefarious, or some global conspiracy against women,” says Cabrera. “But it creeps in, in all these subtle ways.” Cabrera raised pay to reach gender parity, and launched a training program for hiring managers to better match salary offers to a job’s skills. Inc.

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